Gold prices fall below $4,050, and New York futures also follow suit

MEVSandwichVictim · 2026-01-28T16:23:16+00:00

The precious metals market is experiencing a correction, with both spot gold and New York gold futures falling below $4,050 per ounce. This decline, marked by a 2.96% drop in spot gold and a 3.45% drop in futures, signals a significant market shift, impacting mining stocks and signaling potential future volatility.

MEVSandwichVictim

2026-01-28 16:23:16

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A correction phase is underway in the precious metals market. On November 14th, both spot gold and New York gold futures fell below the key level of $4,050 per ounce. The loss of this psychological support level sends an important signal to market participants.

Spot gold declined by 2.96%, while New York gold futures dropped even more, by 3.45%. The higher volatility in the futures market compared to the spot market reflects the influence of leverage trading and the characteristic of commodity futures markets to exhibit more sensitive price reactions.

This decline in gold prices has ripple effects on related markets. Stocks of U.S. gold mining companies were sold in pre-market trading, clearly indicating downward pressure across the entire precious metals sector.

During periods of falling gold prices, mining stocks tend to react especially sensitively due to concerns over rising production costs, profitability, and corporate earnings. The future market trend will likely be influenced by whether the price levels indicated by New York futures can be maintained.

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